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Knight Frank - Tasmania
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Gibson's Mill Apartments, 17 Morrison Street Hobart, TAS 7000

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For Sale

Gibson's Mill Apartments, 17 Morrison Street Hobart, TAS 7000

Hotel & Leisure
Sale Price

Freehold with Business - for sale by offer

Floor area

900.0m²

Property extent

Partial

Tenure type

Vacant Possession

Quality Apartments on the Hobart Waterfront

- Gibson’s Mill is a historic landmark. Built Circa 1860 as Hobart’s predominant waterfront flour mill, the building was owned and operated by the Gibson family for over 100 years.

- In 2010 the building was coverted from offices to 12 luxury apartments; 6 x one bedroom, 5 x two bedroom and a three bedroom penthouse with 180 degree views.

- Accommodation is spread over 3 floors plus 2 levels of car parks.

- Total floor area is 300sqm per floor (900sqm of accommodation).

- Apartments are under a current Management Agreement with Sullivans Cove Apartments. Trading history dates back to 2013 and has shown consistent year on year revenue growth.

- Located in the restored Gibson’s Flour Mill building only a stone’s throw from the docks and Salamanca Place; and opposite the ferry terminal which takes tourists to the wold class MONA museum.

- The apartments have been superbly designed to incorporate many features of the historic mill within a modern apartment.

- All of the apartments have luxurious fit-outs including king beds, full kitchen and laundry facilities, large living areas and decor.

- The property and business can be bought as either a passive investment with management in place or alternatively to own and operate.

- Annual revenue is $960,899 with a very high net profit.

- Council has recently approved a strata title of the complex whereby the 12 apartments could be sold individually and used for permanent residential occupation.

Property ID: 502773642Last Updated: 12 Dec 2018

Knight Frank - Tasmania
Gibson's Mill Apartments, 17 Morrison Street
Hobart, TAS 7000
John Blacklow
Scott Newton

Knight Frank - Tasmania

5 Victoria Street
HOBART, TAS 7000

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Knight Frank - Tasmania

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Knight Frank - Tasmania

5 Victoria Street
HOBART, TAS 7000
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John Blacklow

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John Blacklow
Knight Frank - Tasmania
Gibson's Mill Apartments, 17 Morrison Street Hobart, TAS 7000

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

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